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Canadian financial close: C$ steady Monday

| 1 min read

Glacier FarmMedia — The Canadian dollar held steady on Monday, as investors continued to digest the latest trade uncertainty out of the United States.

  • The Canadian dollar settled at US$0.7305 or US$1=C$1.3689, which was unchanged from Friday’s close.
  • The U.S. Supreme Court ruled on Friday that many of President Donald Trump’s tariffs were illegal, but he countered by vowing to impose a broad global tariff on all imports under different legislation. Trump initially said he would enact a 10 per cent global tariff but raised it to 15 per cent over the weekend.
  • Quarterly earnings reports from several Canadian banks are scheduled for release later this week.
  • Gold was up by US$83.80 at US$4,973.30 per ounce.
  • West Texas Intermediate crude oil lost 0.15 per cent at US$66.38 per barrel.
  • The TSX Composite Index hit record highs in early activity but eventually ran into resistance to settle down 41.01 points at 33,776.50 points.